Other areas that are good for income producing/defensive investing our mobile home parks, self storage and senior living.

I don't know how concerned the RE regulatory body would be as they are mostly concerned with agents.

We want to pull some equity out for reinvestment in other projects.The question, should we wait until we get a renter in with a lease to show the bank that it is producing revenue or just go for a new regular mortgage?  

I have done a couple of wholesales, but my favorite is to buy and hold to produce positive Cash Flow.

Then I would own this asset which would produce around $2500 + monthly cash...Either option sounds good to me, Just wanted to see if anyone has opinions/advice on which direction would be better suited for a young real estate investor building a business.

I thought someone found a body! 

Your attorney can produce a Joint Venture Agreement or an Equity Participation Agreement to cover the terms and distribution of profits.

I currently run production for a large company in NYC and it takes all of my time, leaving me minimal time to focus on investments.So, I know how to produce million dollar commercials and photo shoots; how can I translate that into a job in real estate?

Over the long haul should produce returns of 8-10%, with a fee of 0.05%.

So far I haven't found a dead body, but I'm sure that's just a matter of time.